Chapter 20, Problem 20.17Q

On January 1, 20X2, Maxwell, which uses the straight-line method, purchases a machine for $81,000 that it expects to last for 10 years; Maxwell expects the machine to have a residual value of $12,000. What is the machine's book value at the end of 20X4? i. $54,000 ii. $47,250 iii. $60,300 iv. $57,600

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